Request More Information

Pre-Sales Start Soon

[X] Close

Houston Growth: Exxon predicts 25 percent growth in long-term energy demand



Sundance Cove is in a position to capture demand for communities in northeast Houston as the region continues to grow, both in terms of employment and population/households.

Houston Business Journal recently reported:

Population growth and economic expansion will increase global energy demand by 25 percent between 2014 and 2040, Exxon Mobil Corp. (NYSE: XOM) said in its 2016 edition of The Outlook for Energy.

The Irving, Texas-based company said that gains in energy efficiency and increased use of renewable energy and lower carbon fuels such as natural gas likely will help lower by half the “carbon intensity of the global economy.”

The Outlook on Energy is Exxon Mobil’s long-range forecast developed the company’s engineers, economists and scientist utilizing data-driven analysis, and it looks at trends in energy supply and demands for roughly 100 countries, 15 demand sectors and 20 different types of energy.

“Exxon Mobil’s analysis and those of independent agencies confirms our long- standing view that all viable energy sources will be needed to meet increasing demand,” Rex W. Tillerson, chairman and CEO of Exxon Mobil, said in a statement.

Exxon said that global population will increase by roughly 2 billion people and that emerging economies will expand “significantly.” It said that most of the world’s growth in the energy sector will occur in developing nations that are not a part of the Organization for Economic Co-operation and Development.

The report said that North America, which has been an oil importer for decades, likely will become a net exporter by 2020.